Tax Basis: Money which has yet to be taxed.
Tenants Improvements and Betterment’s: The property affixed to an owner’s building by the lessee or tenant which may not be legally removed when the tenant leaves.
Term: A period of time a policy or bond is issued.
Term Insurance: Life insurance payable to a beneficiary only when an insured dies within a specified period, (5, 10, 15, or 20 years). This is the quickest way to “build” an estate.
Testamentary Trust: A trust created after the grantor’s death, according to the provisions of the the will of its creator.
Third Party Insurance: The claimant under a liability policy. This person making the claim is not one of the other two parties, the insured and insurer.
Threshold Level: The point, measured in money, time, or other ways, which tort liability can be established.
Time Limit on Certain Defenses: The time period in health policies after which the insurer cannot deny a claim or void the policy because of pre-existing conditions or misstatements on the application.
Tort: A private wrong, other than a breach of contract, for which a court of law will afford legal relief.
Travel Accident Insurance: A limited insurance contract covering only accidents while an insured person is traveling.
Trust: A legal instrument allowing one party to control property for the benefit of another.
Turnover Rate: Rate at which employees terminate covered service other than by death or retirement.
The act of inducing by misrepresentation, or inaccurate or incomplete comparison, a policyholder in one company to lapse, forfeit or surrender his insurance for the purpose of taking out a policy from another company.